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IDD, Europe sets a new standard for sales

02 October 2018

Nanterre, 2 October 2018
How we sell insurance to half a billion European citizens is getting much clearer. Banks,department stores, automobile concessions and other distributors can implement the EU's Insurance Distribution Directive (IDD) since October 1st. This is an opportunity for the distributors to enhance the sales experience for improved customer satisfaction.


The general features and attractions of insurance policies has became clearer for over half a billion people when the European Union’s Insurance Distributive Directive (IDD) comes into force this month.

The legislation gives consumers across the 28 Member States, from Ireland to Cyprus, a better picture of what they are buying from insurance distributors ; and insurance distributors a new form of obligation to understand consumer needs.

The aims are to better match individuals’ needs with the insurance products they buy; and reduce inappropriate selling.The IDD applies to life and non-life insurance,including products such as accident cover or creditor protection. It affects not just distributors but advisers and insurers themselves. Major players such as BNP Paribas Cardif, active in 17 Member States, have actively prepared for IDD’s arrival on October 1st. BNP Paribas Cardif sees IDD as a tremendous opportunity to better ensure that the products correspond to the customer’s needs , improve their experience of the sales process and equally protect the brand of distribution partners.“We are here to offer ongoing support in all aspects of the new legislation and its impact,” says Xavier Cognat, Director for Institutional Affairs at BNP Paribas Cardif.

IDD’s first requirement is to ensure that insurance products are sold to their intended target market. For example retirees should be outside of the target market of products offering salary protection. The responsibility of selling within a target market is ongoing and BNP Paribas Cardif is ready to assist partners establish a monitoring programme.

Secondly, each prospective customer Is presented with a simple document outlining what any insurance policy does and does not cover; where it applies; how long it lasts and other key features.

The official template for the Insurance Product Information Document (IPID) below gives a general sense of the tone and contents expected. The IPID is the protection industry’s equivalent to Key Investor Information Document (KIID) for savings products in the European Union. The IPID is designed to be transparent and easy to understand for customers

allowing them to easily compare features of different insurance products.

BNP Paribas Cardif provides the IPIDs to its partners, who are responsible for presenting them to their customers during the pre-contractual stage of any sale. Prospective customers must also be informed of the nature of remuneration earned by the distributor. The legislation seeks to ensure that the incentives to sell products do not conflict with the customer’s best interests.






On this point, it is worth noting that in some countries the rate of remuneration must also be disclosed (eg creditor protection in Italy, and protection insurance in Sweden). This is a reminder that the IDD is a minimum standards regulation. Any of the 28 countries in the European Union can impose higher standards, which means distributors have to divulge more information to potential customers, depending on which countries they operate in. BNP Paribas Cardif is on hand to help partners understand differences in national regulations and follow local best practice.

Customers must also be clear on whether they are being advised when buying an insurance product.

The distinction between advised and non-advised is yet another practice to ensure individuals are clear on the service being offered. In both cases, distributors have to document that customers’needs have been met. BNP Paribas Cardif sees this as an opportunity to build up customer profiles using the latest technology and is sharing its savoir-faire in digitalization, data management and algorithms with partners.

Howewer, digitalisation will not replace the human sales force any time soon. The IDD formalises the need for continuous training. Employees responsible for selling protection insurance (including managers of the salesforce) must receive at least 15 hours training per year. The training, depending on member states transpositions, can take many forms, including digital learning and classroom sessions. Derogations to training requirements apply for distributors selling ancillary cover for mobile phone or extended warrantee.


Finally, distributors should be aware of the effect of IDD on selling insurance products ancillary to a good or aservice as part of a package. The legislation favours transparency and customer choice. So for example where mortgage providers can require customers to take out payment protection, IDD prefers an openmarket choice over an exclusive restriction to buy the protection from the mortgage provider. To understand further how insurance offerings need to be clarified,BNP Paribas Cardif welcomes the chance to explain these new regulations to its partners.

Data science: BNP Paribas Cardif joins scikit-learn consortium

18 September 2018

Nanterre, 18 September 2018

On 17 September INRIA[i], the French Institute for Research in Computer Science and Automation, announced the creation of a consortium to promote and develop scikit-learn, a leading software machine learning library used by data scientists around the world. In joining this consortium BNP Paribas Cardif will expand its role in collaborative data science platforms and deepen the company’s expertise in this field, which will play an increasingly important role in tomorrow’s insurance services.


Scikit-learn is a free software machine learning library. A reference for  data science experts, scikit-learn currently counts 526,000 users per month for a wide variety of applications such as forecasting user behaviour, fighting online fraud and spam, optimization of industrial and logistics processes and targeted marketing, for example.


A consortium has been created with support from the INRIA Foundation to develop and stimulate the scikit-learn ecosystem. In particular this will facilitate the integration of new contributions, along with the addition of ambitious new features to serve the vast community of scikit-learn users and developers.


As an insurer, BNP Paribas Cardif is a company whose management is data-driven. Because data science plays a pivotal role in the client experience and the design of tomorrow’s insurance solution, BNP Paribas Cardif is looking forward to playing an active role within the new consortium.


In becoming a member BNP Paribas Cardif also affirms its commitment to open source development. The insurer will actively support the growth of scikit-learn and contribute to defining strategic priorities.


Transforming data into value for clients: a top priority for the insurance industry


BNP Paribas Cardif has worked to embed digital solutions in every aspect of its operations since 2013. Digitization figures at the centre of the BNP Paribas Cardif 2020 strategic plan. These solutions enable greater volumes of more diverse data to be gathered and valorized to benefit the company’s policyholders and distributor partners.


Analyzing data enables BNP Paribas Cardif to optimize the customer journey, refine its offers and define new solutions. By leveraging data BNP Paribas Cardif aims to automate 80% of its processes by 2022.


The company’s data-related efforts are led by its Data Lab’, a centre of expertise with a secure environment dedicated to developing and applying algorithms designed to improve its services.


The BNP Paribas Cardif Data Lab’ is equipped with:

  • An IT environment with high-performance computing power,

  • An algorithm management and monitoring platform,

  • An open research & development ecosystem.


The algorithms developed have led to the tools capable of automating verification of certain insurance policy clauses, processing supporting documents and providing compensation for claims, among other applications. All these applications flow through to tangible improvements in the client experience, risk prevention, business development and service quality.


An initiative in Spain involving management of creditor insurance claims, for example, is targeting 80% automated decisions. Thanks to artificial intelligence, BNP Paribas Cardif will be able to automatically analyze client documents and in some instances make monthly payments without waiting for policyholders to provide all the supporting documents needed. A third of clients will thus receive immediate approval following a claim. For applications requiring additional information, the claim application will be processed within four hours after documents are received. The goal is to respond as rapidly as possible to enrich the client experience.


“Open source software and free libraries such as scikit-learn play an essential role in the advancement of data science and make an active contribution to the development of innovative offers and services. We are proud to be a stakeholder in the scikit-learn consortium and to support the growth of this reference in the data science ecosystem,” says Michael de Toldi, Chief Analytics Officer of BNP Paribas Cardif.



About BNP Paribas Cardif


World leader for creditor insurance[ii], BNP Paribas Cardif plays an essential role in the lives of insured customers, providing them with savings and protection solutions that let them realize their goals while protecting themselves from unforeseen events. As a committed enterprise, BNP Paribas Cardif strives to have a positive impact on society and make insurance accessible to the largest possible number of people.


In a world shaped by the emergence of new uses and lifestyles, the company, a subsidiary of BNP Paribas, has a unique business model anchored in partnerships. It co-creates solutions with almost 500 partners distributors in a variety of sectors (banks and financial institutions, automotive companies, retailers, telecommunications companies, energy companies, Independent Financial Advisors and brokers…) who then market the products to their customers.


BNP Paribas Cardif is a recognized global specialist in personal insurance, serving 100 million clients in 35 countries with strong positions in three regions – Europe, Asia and Latin America. BNP Paribas Cardif also plays a major role in providing financing for the economy. With over 10,000 employees[iii] worldwide, BNP Paribas Cardif had gross written premiums of €29.7 billion in 2017.


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[i] INRIA (Institut National De Recherche en Sciences du Numérique / French Institute for Research in Computer Science and Automation) is the only public research establishment dedicated exclusively to digital sciences. The institute conducts high level research in computer science and applied mathematics and assesses the economic and social impact.

[ii] Source: Finaccord - 2017

[iii] Headcount of legal entities managed by BNP Paribas Cardif: nearly 8,000 employees

Smart Phygital : transforming the store into an experience

20 September 2018

The days when we regarded bricks-and-mortar shops and digital commerce as diametric opposites now seem very long ago. After a decade during which the digital economy has penetrated ever-deeper into our lives, it is clear that physical retail has not disappeared but is very much still with us.

From supermarkets to shopping malls, from local shops to in-store pick-up of online orders, retail businesses are constantly re-aligning to suit the latest modes of consumption driven by the new technologies and the new ways of doing things which they engender. Moving from one new paradigm to another, the retail sector has proved over time to be extremely adaptable.  And still today, bricks-and-mortar stores are undergoing a further metamorphosis, developing a new ‘Smart Phygital approach that places the Customer Experience at the centre of everything.

Gamification and optimisation of space: focus on CX

Having been badly shaken for a while by the advent of e-commerce and Internet shopping sites, bricks-and-mortar retailers have now managed to incorporate the best aspects of the digital approach so as to create an attractive new in-store experience, optimising the shopping journey and giving a whole new feel to the purchasing act. Most high-street chains have now grasped the fact that it makes no sense to set the physical retail process against online shopping because the two types of sales are in fact complementary. They have therefore largely opted for a multichannel strategy which enables them to offer a 360° service to customers – at the store, via e-commerce sites or on a smartphone. This is certainly the case with the two French retail giants: Monoprix recently linked up with Amazon; while Carrefour has just taken over FoodTech firm Quitoque, which specialises in delivering baskets of food for cooking to a particular recipe. Moreover, these digital channels have become progressively integrated into bricks-and-mortar outlets in a ‘smart’ way, offering innovative new services and providing a more engaging Customer Experience. The ‘phygital’ empire has definitely arrived.

In addition, high-street chains are now increasingly looking to create personalised in-store customer journeys by gamifying the spaces with spectacular Augmented Reality or Virtual Reality functionality or interacting directly with the customer via his/her smartphone. This enables the retailer to expand the sales surface, raise the profile of the product and engage more closely with the customer, turning product discovery and purchasing act into a form of entertainment. At the same time, storytelling around the product image and brand image is becoming an essential element.

In 2017 BNP Paribas Cardif and Cardif Romania have joined their forces to create a serious game on Theft&Damage insurance. This initiative was launched with our partner Carrefour in Romania. Thanks to Virtual Reality, the player finds him/herself in a virtual park where he/she has to protect his/her phone from breakdown, damages and theft dangers. In the end, customers were invited to speak with commercial teams to get more information and subscribe. More than 3000 players had the chance to test the serious game in only 3 months. This win-win project with our partner Carrefour is a good example of how technology can enhance customers’s journey.


In addition to creating a fun aspect that helps brands to engage with the customer, this approach also enables retailers to optimise the available space at their sales outlets. However, while numerous experiments of this kind are currently being carried out, Matthieu Soulé, Deputy CEO of L’Atelier BNP Paribas Americas, underlines nevertheless that “these mechanisms haven’t yet really become a regular habit. We’re just at the very start of the phenomenon. Today we mainly use smartphones because all these connected objects and other digital devices that are now being tried out are rather complicated and are more about marketing and in-store demonstration than indicative of a real revolution in the way a bricks-and-mortar store operates.”


A new CX that gives added meaning to consumption

In fact, more important than the experimentation aspect, sales outlets most of all need to rediscover their social side, becoming a meeting point with the emphasis on fun as much as business. Above all, it is vital not to reduce the Customer Experience to a simple purchasing act. Shopping ought to be a pleasure. Accordingly, digital tools can help to orchestrate these different aspects of the retail world by organising different types of activities around the products. In a nutshell, the retail store of the future is likely to be a cross between sales outlet, fablab, coffee shop, amusement park and interactive museum. Matthieu Soulé points out: “Pop-up stores have shown that while this type of physical experience works well for certain concepts or certain brands, it’s ephemeral rather than really sustainable.” The experience will therefore need to go beyond the actual product and directly touch the customer and his/her ever-more-complex needs and expectations.


Today the customer has become a powerful player in his/her own consumption and is now much more demanding in terms of the management of his time and money. The customer-centric shop must therefore be able to respond in a personalised way to these demands by offering a range of activities that go beyond mere sales. US giant Target has grasped this. The Target Open House is an innovation venue where customers can test out new products and also attend a range of events and workshops, thus creating a commercial venue which sets out to augment the products and the overall offering from a customer point of view.  Rather than merely piling up an array of digital tools at a store, the idea here is to turn the sales point into a versatile, customised, connected services hub.


A low-profile payment process


Meanwhile, the bricks-and-mortar shop can still learn a lot from online commerce, especially when it comes to financial services. By digitalising both the shopping basket and the payment and linking them directly with the services and activities on offer, the shop of the future will minimise or ‘hide’ the less pleasant aspects of shopping, such as the moment when you have to line up at the checkout. Which makes us think immediately of the checkout-free stores, a cross between the physical and digital worlds, introduced earlier this year by Amazon Go. Says Matthieu Soulé: “Clearly, this Amazon approach pushes the concept to the extreme, but it’s not unreasonable to imagine intermediate models where the financial services might not disappear entirely but will nevertheless melt into the overall customer experience.” It is precisely with this kind of thing in mind that US bank Capital One launched its own chain of snack restaurants, called Capital One Café, where customers can meet up, chat and obtain all kinds of information about the bank’s services. This tech-based, low-profile approach is intended to help streamline the provision of products and services and make the customer journey as natural and easy as possible.


All these new ideas serve to reorient and redefine the consumer experience. By emphasising the moment rather than the actual product or service, these players are reintroducing a new element that is absolutely indispensable to commercial relations: the human touch. After all, whether we are talking about financial or commercial transactions or inter-personal communication, it is basically interaction between people that underpins our society. Matthieu Soulé stresses that “one of the great benefits of bricks-and-mortar shops resides in the human touch – and the advice – we get from the salespeople. Their personal remarks are just as good as, or even better than, those we obtain from the algorithms developed by online platforms. And it will always be much nicer to receive face-to-face recommendations from a human being than by scrolling down a screen.” It is this type of human interaction, which is more profound and perhaps more rewarding than the actual business transaction, which it is so vital to re-establish. Let’s hope that ‘smart phygital’ will enable us to move in this direction!


Written in partnership with l'Atelier

12th annual Market Survey of French Independent Financial Advisors (IFAs) and their clients

14 September 2018

Nanterre, 14 September 2018


Independent Financial Advisors optimistic, more digital and challenged by regulatory changes

BNP Paribas Cardif has published the results of its 12th annual market survey of French Independent Financial Advisors (IFAs) and their clients[1]. Conducted with KANTAR TNS, one of the world’s leading market research agencies, the 2018 survey by BNP Paribas Cardif focuses on changes in the profession of independent financial advisor and client expectations, against the backdrop of more demanding regulatory requirements as the digital transformation becomes a reality.


Regulatory changes create development opportunities for independent financial advisors


In an environment impacted by the impending application of the DDA directive on insurance distribution and the creation of a wealth tax on property assets in France, as well as debate concerning the draft PACTE[2] bill, adapting to new regulations is more than ever the primary challenge facing IFAs (cited by 90% of them).


In this context, IFA’s expect changes in the behaviour of their clients, with substantial expectations in terms of tax optimization. 78% of clients in the survey say they are counting on their advisors to assist them for tax issues, compared with 64% in 2017. This priority is even more important since only 27% of clients have a precise idea of the tax reform measures.


Furthermore, over a third (36%) of IFA clients believe that the property wealth tax will lead them to favour financial investments over real estate investments.


Regulatory changes are also having a structural impact on the sector, cited as a motivating factor in the sharp increase in planned acquisitions of financial advisory firms. 45% of the IFAs plan to acquire a firm within the next five years (compared with 38% in 2017). At the same time, just 15% have plans to divest their business, an imbalance that could create tensions in the market.



Growth outlook energized in particular by retirement planning


As in 2017, slightly over 9 out of 10 IFAs believe that the profession is doing well. This positive sentiment is buoyed by a financial situation that continues to improve. The level of gross inflows remains very dynamic, as in 2017, reaching historic highs for the past decade, representing an average of 3.6 million euros per firm.


This optimism is also due to the solid image capital that independent financial advisors enjoy thanks to their expertise and their ability to provide personalized advice. 91% of clients have a good image of their advisors, who remain by far the best source of advice for 78% of clients.


In this context, IFAs have higher five-year growth projections (85% of them expect more robust growth, vs. 76% in 2017). 61% of the IFAs expect the volume of assets they manage to rise, an increase driven mainly by recruitment of new clients seeking asset investment solutions (60% attribute this increase to new client recruitment).


This success is also supported by the diversification of their product and services range. On average, IFAs offer five products or services, allowing them to cover the primary investment objectives of their clients, including preparing for retirement, transferring capital to descendents, protecting their family in the event of death and preparing contingency savings.


Nine out of ten IFAs offer individual retirement products while 46% propose collective retirement solutions, making them prime partners of clients seeking asset management solutions to prepare for retirement. IFA clients currently in the workforce are better prepared financially for retirement than prospects. Clients currently in the workforce who already have IFA partners prefer to invest their assets in PERP[3] personal pension savings plans, while prospects are more interested in PERCO[4] collective retirement savings plans.


Client adoption of online resources increases


IFAs on average resort to slightly more than three different online solutions, meaning that the profession has clearly entered the digital age.  Three-quarters of the IFAs already use online subscription tools and more than 6 out of 10 use aggregators or tools to support their advisory mandate.


The 2017 survey showed that there was still a gap between the maturity of IFAs in relying on digital and Internet-based resources, and the attitude of their clients towards these solutions. This year’s results show that clients have closed the gap when it comes to readiness to adopt online tools. The majority of clients now favour paperless transactions (64%), compared with just 46% in 2017. IFAs correctly believe that the client relationship will increasingly transition to online exchanges (84%) and they feel that on average half of their clients are ready to make this transition with them.


The use of robo-advisors remains marginal among other online resources adopted by IFA clients. Among those who say they would be willing to try these automated investment advice platforms, 94% of IFA clients view them as a tool that complements the work of their IFA. Half of them would invest less than 5,000 euros if they did use an automated platform.


“Nothing seems to have dampened the optimism of French independent financial advisors in 2018, neither current regulatory changes – which they view as an opportunity – nor the need to transition to online resources, which they have largely already done. IFA sentiment is very positive, supported by a loyal clientele base: 91% of the clients have a positive image of their advisor. IFAs continue to play an important role for clients seeking financial investment solutions; in particular they are a prime partner for retirement planning. The results of this survey show that IFA clients often take the initiative by setting up individual pension plans, while prospects generally opt for the collective retirement solutions proposed by their company. These investment objectives may change in the years ahead and the IFAs are positioned to support clients thanks to their expertise and personalized advice,” comments Pascal Perrier, Director of IFA Networks – Brokers & Digital Business, BNP Paribas Cardif France.



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About BNP Paribas Cardif


World leader for creditor insurance[i], BNP Paribas Cardif plays an essential role in the lives of insured customers, providing them with savings and protection solutions that let them realize their goals while protecting themselves from unforeseen events. As a committed enterprise, BNP Paribas Cardif strives to have a positive impact on society and make insurance accessible to the largest possible number of people.


In a world shaped by the emergence of new uses and lifestyles, the company, a subsidiary of BNP Paribas, has a unique business model anchored in partnerships. It co-creates solutions with almost 500 partners distributors in a variety of sectors (banks and financial institutions, automotive companies, retailers, telecommunications companies, energy companies, Independent Financial Advisors and brokers…) who then market the products to their customers.


BNP Paribas Cardif is a recognized global specialist in personal insurance, serving 100 million clients in 35 countries with strong positions in three regions – Europe, Asia and Latin America. BNP Paribas Cardif also plays a major role in providing financing for the economy. With over 10,000 employees[ii] worldwide, BNP Paribas Cardif had gross written premiums of €29.7 billion in 2017.





KANTAR TNS is one of the world’s largest research agencies with experts in over 80 countries. We provide actionable insights to help companies make impactful decisions and drive growth.


With a 50-year expertise in market understanding, innovation, brand and communication, shopper activation and customer relationships, we help our clients identify, optimise and activate the moments that matter to drive growth for their business.

We are part of KANTAR, one of the world’s leading data, insight and consultancy companies.

Find out more at


[1] Methodology: telephone survey conducted by KANTAR TNS between 17 May and 4 June 2018 covering:

  • a representative sample group of 300 independent financial advisors (sample group validated as representative using quotas on size of business and region)
  • a sample group of 537 IFA clients and prospects with financial assets of 75,000 euros or more (sample group validated as representative using quotas for gender, age, region and personal savings assets).

[2] Plan d'Action pour la Croissance et la Transformation des Entreprises (PACTE) – Action Plan for Business Growth and Transformation

[3] PERP : Plan d’Epargne Retraite Populaire

[4] PERCO : Plan d’Epargne pour la Retraite Collectif


[i] Source: Finaccord - 2017

[ii] Headcount of legal entities managed by BNP Paribas Cardif: nearly 8,000 employees

BNP Paribas Cardif chooses Manymore to digitize business with independent financial advisors and brokers in France

08 February 2018

Nanterre, 8th February 2018

In conjunction with its development plan, BNP Paribas Cardif has signed a partnership agreement with Manymore to accelerate the digital transformation of its business with independent financial advisors (IFAs) and brokers. Beginning in April 2018, these partners will benefit from a full online process for savings and retirement savings contracts offered by BNP Paribas Cardif.


BNP Paribas Cardif has teamed with Manymore, a leading provider of software for the asset management industry, to offer new online services for its IFA and broker partners. These services will support the transformation of their profession and provide them with tools to facilitate day-to-day operations.


The solution developed by Manymore for BNP Paribas Cardif will allow independent financial advisors and brokers to simplify processes and accelerate transaction processing. This solution will be compatible with all the aggregators in the market, bringing partners the benefits of a consolidated vision of each client’s position, coupled with online management of contracts available from BNP Paribas Cardif. The solution will also be available via the dedicated partner website Transaction processing will be optimized thanks to a multi-device interface, as well as the integration of digital signatures and enhanced processing traceability. Cardif Elite will be the first life insurance contract to take advantage of this full online experience from April 2018.


“In an environment where the client experience is continually being redefined by web players, we will be offering a competitive online solution for our partners and their clients that leverages the expertise of Manymore. Pascal Perrier will soon join our team to lead this activity. This partnership is the first stage in the digital transformation of our business with independent financial advisors and brokers. Investments of 17 million euros have been targeted between now and 2020 to meet the needs of our partners and their clients,” says Jean-Christophe Boccon-Gibod, Director of Partnerships and Digital Business for BNP Paribas Cardif France.


“This partnership with BNP Paribas Cardif is a strategic development for Manymore. It allows us to expand our service offering with the Connective Software range to support the insurer as it digitizes the subscription process and other transactions such as redemption or trades. We are providing BNP Paribas Cardif with a cutting-edge extranet for transaction management by both the financial advisors that work with them, as well as the company’s own front and back-middle office teams,” adds Pierre-Laurent Fleury, CEO of Manymore.


Results of

11th annual

Market Survey of

Independent Financial Advisors (IFAs)

and their clients with KANTAR TNS in 2017

80% of IFAs believe that it is important to invest in the digital transformation of their activity. Asked about their digital priorities in this area, 72% of them cited digitized transactions and 52% cited the development of digital solutions for communicating with their clients. 40% of them cited the reinforcement of their equipment as a priority.


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BNP Paribas Cardif takes creditor insurance subscription online to make life easier for clients

02 February 2018

Nanterre, 1st february 2018

Immediate online approval for 8 out of 10 clients


Purchasing a home is a major event in people’s lives and can be a source of complexity and stress. This is why BNP Paribas has reinvented creditor insurance to make policy subscription fast and easily available to everyone, thanks to an all-online process.


A fluid process for a personalized, secure client experience.   


Following a simulation with a BNP Paribas advisor, clients receive a login and password allowing them to access a secure, personal space where they can complete a medical questionnaire online.

In just 7 minutes[1], clients complete a personalized medical questionnaire in order to subscribe a creditor insurance policy. With this innovative solution over 80% of clients receive immediate approval online. When additional formalities must be completed, the client instantly receives the list of medical information required and can simply photograph the documents and send them electronically via the secure personal space.

People who are asked to complete a health exam can also locate the nearest certified medical centre and get an appointment within 48 hours. The entire process is free, and the results are sent immediately to the BNP Paribas Cardif advisory physician.


Easier access to insurance for the most vulnerable clients


As a socially-responsible company, BNP Paribas Cardif was one of the first insurers to facilitate subscription of insurance policies for people with certain pathologies (asthma, paraplegia, coronary disease, etc.). The online insurance creditor insurance subscription process fully respects this commitment by further facilitating access to insurance.

“We are extremely proud to introduce this new and completely intuitive online insurance solution, which was developed by teams from BNP Paribas Cardif and BNP Paribas French Retail Banking in order to simplify the process for our clients,” says Benoît Gommard, Retail Networks Director, BNP Paribas Cardif France.

“This new solution allows our clients to benefit from a rapid and fluid insurance subscription process, enabling them to finalize their property acquisition projects without any added stress,” adds Frédérique Rabier-Aliôme, Co-Head of Retail Operations at BNP Paribas French Retail Banking.
This initiative is emblematic of BNP Paribas Cardif’s ongoing commitment to enhance the client experience, a key strategic priority for the company that leverages data to improve the fluidity of operations.


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[1] Average connection time recorded

Appointment: Pascal Perrier named new Director of BNP Paribas Cardif France IFA and Broker business

30 January 2018

Nanterre, 30 January 2018

Pascal Perrier has been appointed Head of BNP Paribas Cardif business activities with independent financial advisors (IFAs) and insurance brokers in France, effective 1 May 2018. He will pursue the transformation of this business segment within the framework of BNP Paribas Cardif’s 2017-2020 development plan.


BNP Paribas Cardif has worked for more than 30 years in France with independent financial advisors and insurance brokers that distribute its savings and creditor insurance products. BNP Paribas Cardif is a leader in insurance distribution via independent partners in the life insurance and personal protection markets.

Independent financial advisors and brokers figure at the heart of the company’s development strategy in France whose ambition is to propose a digital and competitive offer to both clients and advisors against the backdrop of continually evolving regulations and technologies.

Pascal Perrier will join BNP Paribas Cardif France‘s Executive Committee. He will report to Jean-Christophe Boccon-Gibod, Director of Partnerships and Digital Business for BNP Paribas Cardif France.

Pascal Perrier, 57, has spent most of his career with BNP Paribas Cardif, joining the company in 1994 as a bond and futures trading manager with the investment and asset management department. In 2001 he was given responsibility for international coordination of BNP Paribas Cardif foreign subsidiaries. From 2004 he contributed to the creation of the Global Savings department, becoming head of savings product marketing and business development for Asia and India until 2008, when he became global head of savings. In 2009, he joined the BNP Paribas Cardif bancassurance channel as deputy head of bancassurance development in international markets. Since October 2013, Pascal Perrier has been Chairman and CEO of BNP Paribas Cardif in Poland and will remain at this position until 30 April 2018. 

Pascal Perrier has a masters in business and tax law from the University of Nancy. He has a postgraduate diploma from Institut Supérieur de Gestion and has an MBA from the University of San Francisco.


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BNP Paribas Cardif announces excellent results for 2017 and very good start for 2020 development plan

29 March 2018

Nanterre, 29 March 2018

The world leader in insurance partnerships[i], BNP Paribas Cardif recorded excellent results for 2017. All key indicators for the contribution of the insurance business to BNP Paribas Group results (gross written premiums, pre-tax net profit, assets under management) showed strong growth. Initial progress in executing the Cardif Forward development plan launched in 2017 allows the insurer to confirm its objectives for 2020.


Significant increase in results


BNP Paribas Cardif results for 2017 showed strong growth:


  • Gross written premiums for the insurance business of BNP Paribas totalled 29.7 billion euros, an increase of 9.3%[ii] over 2016. Growth in gross written premiums came from both savings (22.6 billion euros, +10%2 versus 2016) and protection insurance (7.1 billion euros, +7%2). The insurer delivered good performance in Europe and benefited from strong momentum in Asia and Latin America (see appendix).

  • Pre-tax net profit was 1.9 billion euros. At constant scope and exchange rates, pre-tax net profit rose 9%, reflecting excellent operating performance generated by the growth in business volumes and efficient management of losses and claims. Taking into account the exceptional gain from the sale of 4% of its Indian subsidiary SBI Life[iii] and the impact of the acquisition of 100% of Cargeas Assicurazioni, a major provider of non-life insurance in Italy, pre-tax net profit was up 36.4% over 2016.

  • At 31 December 2017, BNP Paribas Cardif had 237 billion euros in assets under management, an increase of 4.9% compared with the previous year.


Promising start for Cardif Forward plan


BNP Paribas Cardif, a growth engine for the BNP Paribas Group, deployed its 2017-2020 development plan, one of the main components of which is creating new experiences for its clients and partners. To achieve this, the insurer is leveraging its data expertise to become more agile, and aims to automate 80% of its processes by 2022.

Numerous initiatives were launched around the world in 2017 to provide rapid and transparent service delivery paths for both partners of BNP Paribas Cardif and their clients. They include:


  • In France, BNP Paribas Cardif digitized the creditor insurance subscription


  • In Spain, BNP Paribas Cardif is testing a new service for managing creditor insurance claims. Thanks to artificial intelligence, the insurer will be able to automatically analyze documents and make monthly loan repayments without waiting for all supporting documents. This will allow a third of clients to receive immediate approval. For claims requiring additional documents, the claim will be acted on in less than four hours after the documents are received.


  • In Colombia, the insurer has provided partners and clients with new digital tools. Partners have a web portal and a mobile application to track activity indicators in real time, check information on policyholders and access training resources. These digital tools have already enabled 3,000 salespersons to adjust the way they work to better satisfy the needs of their clients.


  • In South Korea, BNP Paribas Cardif has digitized communications with clients using the KakaoTalk platform, the most popular messaging application in the market. This is an example of how the insurer adapts to the habits and tools used daily by its clients. This initiative limits mail and speeds exchanges. It was adopted by 20% of clients in just a few months. The solution will add more features in the months ahead such as enabling clients to check performance information or change the terms of their insurance policy.


Strengthening a partnership model that drives growth and creates value


BNP Paribas Cardif distributes its products through 500 partners in a variety of sectors[iv] and has the largest number of bancassurance partnerships in the world1. Thanks to its proven expertise in insurance partnerships, BNP Paribas Cardif captures growth opportunities and continually develops partnerships with new distributors and new industries in markets around the world.

Deployment of the insurer’s strategy plan led to an extension of its global partnership with Volkswagen Financial Services, as well as a significant number of new agreements, including:

  • In Turkey with the financing unit of Turkcell, the leader of the Turkish telecom sector,

  • In Japan, creating a joint venture with Sumitomo Mitsui Trust Bank, which is part of the country's fourth-largest banking group,
  • In Chile with Itau, one of the largest banking groups in Latin America

2017 was also marked by the successful initial public offering in India of SBI Life, a joint venture between the bank SBI and BNP Paribas Cardif. Following the operation[v], BNP Paribas Cardif booked a capital gain on the sale of its equity interest of 326 million euros. BNP Paribas Cardif now holds 22% of SBI Life, a stake valued at 2 billion euros[vi]. This initial public offering is a major milestone in the history of the joint venture and demonstrates BNP Paribas Cardif’s ability to generate value with its partners. Founded 17 years ago, SBI Life is the leading privately held life insurance company in India. It operates through its 98,000 agents and SBI’s 22,000 bank branches.


Strong acceleration in property and casualty insurance


In line with the objectives of its strategic plan, BNP Paribas Cardif continues to diversify its business mix and accelerate its growth in the property and casualty insurance market:


  • In 2017, BNP Paribas Cardif acquired 100% of Cargeas Assicurazioni, a provider of non-life insurance in Italy. This transaction, which creates growth potential, enables BNP Paribas Cardif to strengthen its position in the property and casualty insurance market and offer a complete range of insurance for its clients.

  • Icare, a subsidiary of BNP Paribas Cardif specialized in extended warranties for motor vehicles[vii], continued to grow in Europe thanks to new partnerships in Italy and Germany. The unit’s insurance gross written premiums reached 74 million euros, an increase of 18% over 2016.

  • In France, 2018 will see the launch of Cardif IARD, a joint insurance company held 66% by BNP Paribas Cardif and 34% by Matmut. The company will market a range of property and casualty insurance solutions. Signed in late 2016, this partnership reflects BNP Paribas Cardif’s commitment to building its positions in this strategic market in France.


Acommitted enterprise with positive impact on society

On the strength of its excellent results and numerous development initiatives in 2017, confirming progress in executing its strategic plan, BNP Paribas Cardif confirms the objectives for 2020 announced in 2017: additional revenues of 400 million euros and continued RONE[i] in excess of 18%.


BNP Paribas Cardif will pursue its growth while strengthening its positive impact on society:

  • As a global specialist in personal insurance BNP Paribas Cardif makes insurance available to the largest possible number of people. The company has initiated a program to simplify all commercial documents for clients to make insurance easily understandable by everyone. In three years, more than 10,000 documents have been rewritten in language understandable by the majority of consumers[ix] in France and other countries. In order to make insurance available to vulnerable segments of the population, BNP Paribas Cardif became one of the first insurers in France to facilitate insurance subscription


  • As an institutional investor, BNP Paribas Cardif manages savings that policyholders entrust to the company with a two-fold priority: combine financial performance and positive impact on society. To support financing of the energy transition, in just one year, the company increased green investments[x] by 46%. The insurer also believes that it has an active role to play in reducing inequality and also invests in funds with significant social impact: BNP Paribas Cardif finances more than 6,000 emergency shelter units via the Hémisphère fund[xi] and is one of the main investors in the Fonds de Logement Intermédiaire (FLI) fund, which has provided accommodation for 644 families in rent-controlled housing since 2015.


  • As an employer of 10,000 people worldwide, BNP Paribas Cardif offers a motivating work environment for staff and supports them in achieving a healthy work/life balance. In France, employees who are care-givers have access to a specialized assistance platform to help them care for loved ones who are aged, can no longer live independently, are sick or disabled. In Turkey, the company created a personalized program called Flexbox, which offers a range of benefits (leave, meal vouchers, health insurance, etc.) to meet different needs


An infographic showing 2017 key figures for BNP Paribas Cardif is available here.





Domestic markets (France, Italy and Luxembourg) for the BNP Paribas Group’s insurance business recorded gross written premiums of 19.9 billion euros in 2017, an increase of 7% compared with 2016.

France had gross written premiums of 12.8 billion euros (+10% vs. 2016). Savings gross written premiums totalled 11.3 billion euros, up 10% over 2016. Unit-linked contracts accounted for 30% of inflows (26% in 2016), supported by favourable market trends. Protection gross written premiums reached 1.5 billion euros (+3% vs. 2016). The protection segment covers creditor insurance, personal insurance, property and casualty insurance and extended warranties for motor vehicles (through the Icare Assurance subsidiary, which recorded gross written premiums of 74 million euros, an increase 18% compared with 2016).


Italy had gross written premiums of 4.4 billion euros, a slight 2% decline compared with the previous year, including 3.8 billion euros in savings. The Italian subsidiary experienced lower inflows to its general fund but continued to developed unit-linked contracts (36% of inflows in 2017 vs. 24% in 2016). Protection gross written premiums were 687 million euros in Italy, a 4% increase compared with the previous year.


In Luxembourg, Cardif Lux Vie had gross written premiums of 2.7 billion euros, up 13% over 2016, with 70% of inflows in unit-linked contracts (compared with 55% in 2016).


In international markets (Asia, Latin America and Europe, excluding domestic markets), the insurer recorded total gross written premiums of 9.9 billion euros, an increase of 14%2 in comparison with 2016:

Asia had gross written premiums of 4.8 billion euros in 2017, compared with 3.8 billion euros in 2016 (+27.5%2 compared with the previous year). Inflows were up in India, China, South Korea, Japan and Taiwan, which are BNP Paribas Cardif’s main markets in Asia. Taiwan had a particularly good year with gross written premiums of 2.6 billion euros in savings, of which 97% in unit-linked contracts. Business volume in Taiwan increased 37%2 thanks to the launch of new products and favourable market conditions. Japan was the primary contributor to protection business for the Asia zone thanks to its creditor insurance activities. Gross written premiums in Japan totalled 508 million euros, an increase of 9%2.


Latin America continued to see growth in protection insurance as gross written premiums increased to 1.8 billion euros (+10%2 vs. 2016). Chile, which was BNP Paribas Cardif’s first market in Latin America, recorded gross written premiums of 600 million euros, an increase of 10%2. Brazil swung back to growth with an increase of 12%2 to reach 585 million euros in gross written premiums. Colombia, the insurer’s third-largest market in Latin America, recorded gross written premiums of 262 million euros (+7%2 vs. 2016).


Europe (excluding domestic markets) and emerging markets were stable in comparison with last year (+0.5%2 vs. 2016), totalling gross written premiums of 3.3 billion euros.


Download the press release about our contribution to BNP Paribas 2017 results.

[I] BNP Paribas Cardif is the insurer with the largest number of bancassurance partnerships in the world. Source: Finaccord (

[II] At constant exchange rates

[III] Initial public offering of SBI Life on the Bombay Stock Exchange and the National Stock Exchange of India in October 2017

[IV] Including banks, financial institutions, consumer credit companies, automobile manufacturers, retailers, telecommunications companies, independent financial advisors and brokers

[V] Sale of 4% of shares (IPO price of 700 rupees per share); 22% stake in SBI Life following the IPO

[VI] Based on IPO price

[VII] BNP Paribas Cardif acquired 100% of  Icare in 2014

[VIII] Return On Net Equity (pre-tax)

[IX] Standard language designed to be understood by anyone whose language skills correspond to level B1 of the Common European Framework for Languages, which covers the majority of consumers.

[X] Green investments (including green bonds and infrastructure funds): 1,227 million euros at end 2016;  1,788 million euros at end  2017

[XI] The Hémisphère fund launched by SNI and AMPERE Gestion invests in housing for people in need

CREDITOR INSURANCE: SeLoger and BNP Paribas Cardif sign partnership to simplify property acquisitions in France

06 April 2018


Paris, 6 April 2018

To make it easier for French homebuyers to purchase a property, real estate transaction website SeLoger has forged a partnership with BNP Paribas Cardif, the insurance subsidiary of the BNP Paribas Group, offering simple and fast access to creditor insurance.

Purchasing a property and arranging financing can be a source of stress given the numerous administrative procedures that must be completed. Subscribing creditor insurance is essential in order to secure a loan and protect the buyer’s family, and the mortgage rate alone is not enough to evaluate the most attractive loan offer. With more than 40 years of experience in creditor insurance, BNP Paribas Cardif is able to simplify access to its creditor insurance solutions in order to enhance the client experience.


Insurance adapted to each borrower’s profile in just a few clicks

The SeLoger website counts 30 million visits per month, making it the top site for French homebuyers looking to purchase a property. SeLoger provides visitors with a complete array of practical information to prepare for their purchase (budget, fiscal measures, etc.), as well as financing information (mortgage loans and creditor insurance).

The partnership between SeLoger and BNP Paribas Cardif simplifies the process for homebuyers who use the site. Thanks to a simulator available in the SeLoger Finances space (, visitors can in just a few clicks determine the guarantees required given their profile, and simulate the rate for Cardif Liberté Emprunteur creditor insurance cover. They can contact an advisor for additional information and subscribe the insurance directly online.

Marketed via insurance brokers, independent financial advisors and the website, Cardif Liberté Emprunteur has seven different options to match individual borrower profiles and each property acquisition project. The policy also includes a range of assistance services to support customers and facilitate daily activities (home aid, child care, etc.).


Download the press release